Income Tax : The new Income Tax Rules, 2026 permit reapplication within one month of rejection. This provides a faster alternative to appeals a...
Income Tax : Authorities now scrutinize NGO financial statements before granting or renewing registration. Proper documentation and clear chari...
Income Tax : Expanded grounds for cancellation now include legal non-compliance and incorrect disclosures. Trusts must treat accuracy and gover...
Income Tax : Objects benefiting specific communities or allowing overseas application of funds invite rejection. The ruling focus is on deed la...
Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
CA, CS, CMA : A Chartered Accountants' association requests an extension for tax audit and 12A renewal due dates, citing portal issues, festive ...
Income Tax : The Chartered Accountants Association requests tax deadline extensions for TAR, ITR, and 12A renewals, citing severe floods in nor...
Income Tax : Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes...
Income Tax : The Tribunal held that applications were rejected without adequate opportunity. The matter was remanded for fresh adjudication fol...
Income Tax : ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that...
Income Tax : The Tribunal ruled that failure to obtain prior approval for loans is only a procedural lapse. It directed reconsideration of 12A ...
Income Tax : The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasiz...
Income Tax : ITAT Mumbai held that rejection of registration under section 12AB of the Income Tax Act treating receipts and income from sale of...
Income Tax : The Income Tax Amendment Rules, effective October 1, 2024, revise Form No. 10A and 10AB for registration under sections 12A and 80...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Income Tax : CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of th...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
When an entity served both its members and the public, the dominant object test applies. If the regulatory functions lead to borrower protection and financial stability for low-income groups, the GPU status was maintainable.
The tribunal held that systematic sports training and self-defence instruction to students constitute education under Section 2(15). As activities were charitable and genuine, denial of registration under Sections 12AB and 80G was set aside.
Retrospective cancellation of registration was held to be invalid as the scheme of Act did not permit cancellation of registration under Section 12AA(3) with retrospective effect in absence of explicit statutory authority.
The Court upheld rejection of condonation where delay exceeded 365 days under CBDT Circular. It clarified that Commissioners lack authority beyond this limit but relief may be sought from CBDT.
The Tribunal held that delay due to lack of awareness and administrative oversight constituted sufficient cause. It set aside the rejection as the condonation request was not considered and remanded the case.
ITAT held that exemption under Section 11 cannot be denied via rectification under Section 154 for alleged delay in filing Form 10B. The issue involved disputed facts and prior acceptance, making Section 154 invocation invalid.
The High Court set aside the assessment order after noting that it was passed ex parte and remitted the matter for fresh proceedings with an opportunity for the assessee to file a return.
The ITAT Delhi set aside the rejection of 12A registration, holding that the applicant should be given another opportunity to submit documents proving the genuineness of charitable activities.
The Tribunal ruled that filing Form 9A is not required when a charitable trust sets off earlier years’ excess application against current year income. The set-off is allowable as application of income under Section 11.
The Court held that merely earning higher profits by related concerns does not establish diversion of trust funds. Without evidence of undue benefit to specified persons, Section 13(1)(c) cannot be invoked.
